How to Create an ATV Rental Business Plan

Published on March 17, 2022

ATV rentals are on the rise across the United States and abroad, and online searches for rental services have increased each year for the past four years running. There’s no reason to believe that this trend won’t continue — the timeless thrill of ATV rentals will always draw in adventurous customers.

If you’re looking into how to start an ATV business, you need to develop an effective ATV rental business plan. This will ensure that you fully understand what it will take to make your business succeed, and serve as an essential step in finding financing for your new business.

ATV Rental Industry Overview

Researching how to start an ATV rental business has probably left you familiar with the industry overall, but anyone you’re showing your ATV rental business plan PDF to might not be.

Place the industry overview at the start of your business plan to bring the reader up to speed with the ATV rental industry as a whole. By including some information about how ATV rentals are growing across the country or within your region, you can inspire confidence in the success of your venture.

Now you’re establishing a good foundation for showing any potential source of funding that your business can thrive.

Your Executive Summary

Once you’ve given the reader a brief overview of the industry, communicate the highlights of your ATV rental business model quickly and concisely. The executive summary contains key details about your business model, pricing, and more.

While this goes near the start of the business plan, you’ll actually put this section together last. It’s a summary of the contents of the rest of the business plan, so you’ll need to have all the other parts finished before you begin.

Your ATV Rental Services

In this section, you define what services you’re going to offer. You can flesh out your ATV rental business ideas in more detail here.

Consider these questions:

What class ATVs are you providing?
Are ATVs rented hourly for on-site trails, or extended off-site excursions?
Do you rent out helmets and other gear?
Do you have any accessories available for purchase?

When it comes to establishing your business plan, just saying that you’re going to rent ATVs doesn’t provide the necessary detail to determine your potential ATV rental profitability. You must be specific with your plans.

Your Mission Statement

You might not have thought about your mission statement when researching how to open an ATV rental store, but it’s still an important part of your business plan. This should say a bit about the principles on which you’re going to run your business.

It’s best to keep things simple when it comes to your mission statement. For ATV rentals, in particular, you can include that you want to provide an exciting experience while maintaining safety.

The Structure of Your Business

With this section, you’re getting into some of the finer details of your ATV rental business start-up.

Before moving any further, you need to decide who is going to do what in your business. Whether you’re going to have employees (and how many) will have a huge impact on your overall plan.

There are core responsibilities for any ATV rental business, and you need to know who is going to handle them. Who performs maintenance? Who cleans the ATVs? Who is dealing with marketing?

Performing a SWOT Analysis

A key feature of modern business plans is the strength, weakness, opportunity, and threat (SWOT) analysis. Here, you can identify how your ATV rental business is situated for success. You can discuss the demand in the area and other factors.

It’s just as important to discuss potential weaknesses and threats, in order to prevent and react to them. Is there a lot of competition in your area? Is there a risk of extended inclement weather reducing rentals?

Sales and Marketing Strategies

A big part of how to open an ATV rental store is properly marketing your business to drive growth. Marketing is important for establishing your business and keeping it going. You should identify specific strategies and platforms you intend to use for your business.

For ATV rentals, you should understand who your key rental demographics are. This can vary depending on your area and what renters will likely be using your ATVs for, whether that’s touring local trails or more serious off-roading.

Sales Forecasting

Are ATV rentals a profitable business? The biggest deciding factor for your business will be your sales. That means you should have some forecast in place before you actually start your business in order to gauge profitability.

Sales forecasting is a challenge in any industry, even for well-established businesses. You can look at companies in surrounding areas to see how they’re doing to put together a rough estimate and include projections based on your expected inventory for different use rates.

Choosing Your Pricing Strategies

How much does an ATV rental business make? That’s going to depend largely on your pricing strategy. You need to have a coherent pricing strategy in place to make sure you’re getting the returns you need to justify your ATV inventory investment.

Developing an effective pricing strategy will involve balancing what your customers are willing to pay with the income you need to keep your business running. If you can’t get this to work on paper in your business plan, then chances are your business idea isn’t going to pan out.

Evaluating Your Business Expenses

Any good business plan should have a detailed list of anticipated expenses. This should cover everything you need to run your ATV rental business, including wages, acquisitions, insurance, and more. You don’t want to find out about any unexpected expenses after the fact.

How to Grow an ATV Rental Business with Quipli

Setting up an ATV rental business plan is the first step, but once you get started, you need to know that you have the correct tools to grow your business.

With Quipli, you have access to a website builder that works seamlessly with our integrated reservation and inventory system.

Book a demo with Quipli today to see what we can do.

Build YOUR BUSINESS WITH QUIPLI’S ATV RENTAL SOFTWARE

What Your Rental Website Builder Needs to Help You Run a Successful Business

By Kyle Clements

Published on March 17, 2022

Businesses rely on their websites much more today than they did a decade ago. They’re more than just digital business cards now, with so much going into building an effective website. To do so correctly, you’re going to need to find the right website builder for your business.

Easy-to-Use Website Content Management Systems

When evaluating different equipment rental website builders, ease of use is going to be near the top of the list for anyone who doesn’t have extensive website experience. There are many options out there with templates, drag-and-drop functionality, and other features that make the once-difficult task of website building accessible to anyone.

Key Ease of Use Features

There are some features you really shouldn’t be without. Ideally, you’ll find a website builder that has an available customer service team to help with the builder. Here are some of the other key features that you should be looking for to make your website building experience go smoothly:

One-Click Page Composer

You should be able to make a new page with just one click or something close to that. Good website builders have pre-made templates to suit just about any potential need. These website templates should make it easy for you to create modern and user-friendly web pages in no time.

eCommerce Capabilities

Different website builders allow for varying levels of integration with your business. Since your website is for your rental company, you need a website builder that makes eCommerce integration easy with specific templates for that function.

SEO Features

Search engine optimization (SEO) involves catering your website content to what search engines recommend to their users. This design approach involves putting keywords in the right places, including content that is only viewable by search engines. A good builder makes this task incredibly straightforward. Find out how Quipli’s digital growth products can work for you!

Fully Responsive Sites with Mobile Optimization

Most users make the decision to stay on or leave a certain website within 15 seconds. If your website isn’t fully loaded and completely functional within that time, then your customer is gone. A good website builder has the fully responsive layout needed to make things easier for your customers.

You also need to make sure that your website builder optimizes for mobile users. Search engines like Google place a high value on mobile optimization, and over 60% of search traffic comes from mobile devices.

Ability to Add Product Listings, Category Pages, and Subcategory Pages

Most rental businesses start small and grow over time. Your business is sure to add more equipment as time goes on, likely branching out into other categories. Updating your website to reflect these new product listings shouldn’t be a challenge. Instead, your website builder should handle this practically automatically.

It should be just as straightforward to save your rental equipment in different categories as it is with any other eCommerce venture. Quipli makes it even easier with the ability to import product information and categories from an Excel spreadsheet. Our software updates your product listings without any difficulty at all.

Straightforward Payment Integration

Of course, a big part of running any business is getting paid. You need a website builder that lets you accept bookings and payments from a wide variety of sources. It isn’t enough to only accept a credit card for online payments. Many customers will simply move on to a competitor with more versatility.

Today, there are countless options like Stripe, PayPal, and more for online payments. You need an integrated payment system that can let customers pay how they want. Quipli does just that while also making a seamless connection between online reservations and in-person pickups.

Equipment Inventory and Reservation Management

Inventory management is a vital part of any rental company’s day-to-day operations. Given how many customers prefer to book online today, the only way to meet those needs is to have your website builder include an integrated inventory and reservation management system.

Syncing your inventory and reservations is something that needs to be done automatically to avoid mix-ups. You can’t have two separate systems running online and in-person reservations — you need your website to be fully integrated with your inventory.

Rental Software with CRM Integration

Customer relationship management (CRM) is essential for any business to succeed. This need is particularly pronounced in many types of rental companies where repeat customers are among the top sources of business. Many tools can improve your CRM, and you should choose a website builder that integrates those tools.

Among the most important aspects of CRM is to capture valuable data from customer interactions. This capture includes getting email addresses from customers and visitors to provide a direct link for email marketing. If you aren’t using these resources, you’re missing out on one of the most valuable marketing tools available today.

Blog Features

Blogs might seem like they have gone out of style, but they are a very important part of how businesses market themselves online today. You need a website builder that makes it easy to create, manage, and optimize blog posts for your rental business.

All of the content on your website plays a role in search engine rankings. Blog posts are a great way to target specific keywords to cast a wider net and funnel more potential customers through your website.

Customer Support for the Rental Website Builder

Many website builders online today have little to no customer support available. That’s a position that you don’t want to be in as a business that relies on its website for reservations. If your website develops issues, you need to know that there’s someone you can consult with to resolve those issues.

Get Started with Quipli’s Rental Website Builder

Quipli provides all-in-one rental business software for equipment rental businesses. Our software features a built-in website builder that works seamlessly with our inventory and reservation management solution.

The Quipli website builder is easy to use and has all of the features you need to run your business, including our integrated point of sale (POS) system. Contact Quipli today to set up a demo and find out more.

CREATE YOUR OWN STOREFRONT WITH QUIPLI’S POWERFUL WEBSITE BUILDER

How You Can Start Your Own Golf Cart Rental Business

By Kyle Clements

Published on March 17, 2022

A golf cart rental business could be an excellent choice for your next small business idea. These businesses can be highly profitable if you’re situated in a good location and run your operation right. With a good golf cart rental business plan in place, you could see your new venture become very profitable very quickly.

How Does a Golf Cart Rental Business Work?

You might think that golf carts are strictly the domain of golf courses, but that couldn’t be further from the truth. Your golf cart rental business ideas aren’t restricted to the sport itself at all. Golf carts are one of the most popular options for transportation in a wide variety of locations.

When figuring out how to start a golf cart rental business, one thing to keep in mind is that you need customers. Your primary revenue will be from renting out golf carts to drivers. In almost every case, those drivers are going to be tourists.

Golf cart rental businesses are predominantly found in areas with high tourist traffic. Most tourist areas will have the necessary density of attractions as well as pathways, boardwalks, and other routes that are perfect for golf carts.

The location is the primary factor in determining “how much does a golf cart rental business make?” If you have a steady stream of tourists and visitors renting your golf carts to enjoy local attractions and scenery, then this could be the perfect rental business idea for you.

What Is a Golf Cart Rental Company’s Business Model?

When it comes down to how to run a golf cart rental business, you need to understand how the business model works. That means you’ll have to understand what your revenue streams and costs will be.

In terms of costs to get started, you’re going to have to buy some golf carts. These can vary widely in price depending on the brand, style, features, and whether you buy new or used.

The other primary consideration is going to be where you keep your carts. You’re going to have to buy or rent property to store your carts and serve as your place of business. Identifying a suitable location will be one of the most considerable challenges because prime locations are expensive.

Your primary source of revenue will be rentals. Most golf cart rental businesses will charge by the hour, half-day, or day. To determine your golf cart rental profitability, you’ll have to weigh this revenue against all of your costs. Some golf cart rental businesses will also offer beverages and snacks.

What Are the Costs of Running a Golf Cart Rental Business?

In addition to the golf cart rental business start-up costs, you’ll also have various ongoing costs that can affect your golf cart rental business model. Understanding all of these costs is essential before committing to your rental business idea.

Maintenance is likely to be a considerable cost for your business. Like any vehicle, golf carts require regular maintenance to stay in working condition. You’ll have both recurring maintenance costs and unexpected maintenance costs when you have to replace broken parts. Customers will expect your carts to be clean and operational.

Your golf cart rental business should also invest in a tracking solution. You need to know where your carts are at any time to prevent theft. GPS tracking is the standard, with various solutions available on the market.

Replacing carts as needed is another significant cost. Eventually, every golf cart reaches a point where it needs to be replaced. Ignoring this cost in your business plan will eliminate any chance of profitability.

In addition to these specific costs, you’ll have the regular expenses of any business. If your business is more than just yourself, you’ll have to pay wages. Your golf cart rental business will need vehicle liability insurance. There will be taxes, utilities, accounting fees, and the costs for any other services or solutions you need.

How Can My Golf Cart Rental Business Reach Customers?

If you’re wondering how to grow a golf cart rental business, you can take advantage of plenty of unique opportunities. For example, if your business is in a tourist location, some effective tools can be traditional brochures and posters.

Hotels and other establishments encourage local attractions to provide brochures for their lobbies to attract tourists. You can also reach out to tourist spots themselves to promote your golf cart rentals. Any business that might receive more traffic if tourists can get around more quickly will be happy to help you.

Of course, there’s no getting around web marketing today. You’ll need an website that’s optimized and easy to find. It’s in your best interests to come up first whenever someone searches for transportation options in your area. Digital marketing for equipment rental businesses is crucial in this space.

What Are Some KPIs I Can Use to Understand How Well My Golf Cart Rental Business Performs?

Are golf cart rentals a profitable business? While they often can be, you need a way to know how well your business, in particular, is performing. To do so, you can use some common rental business key performance indicators (KPIs) to evaluate your business.

Time Utilization

This metric measures the hours your carts are rented out against the hours they’re available. You can use it to identify your strongest and weakest inventory items.

Customer Acquisition Cost

This data measures how much you pay in marketing to acquire customers. Comparing the cost for different referral methods can guide your marketing strategy.

Return On Investment

This figure represents the total revenue from a cart compared to its purchase and maintenance costs. It shows the lifetime profitability for your various golf cart options.

Of course, there are many more metrics that you can use to gauge how well your business is doing. By applying a wide variety of KPIs, you can get the best picture of your business.

The Importance of Reservation and Inventory Management

Every rental business needs a way to take reservations and manage its inventory. You can make running your golf cart rental business that much easier with Quipli, an integrated reservation and inventory system that automates the entire process and provides additional tools.

Contact Quipli today to find out more about our equipment rental website templates and our integrated rental pos system.

BUILD YOUR BUSINESS WITH QUIPLI’S GOLF CART RENTAL BUSINESS SOFTWARE

How to Improve Your Tool Business Profitability

By Kyle Clements

Published on March 17, 2022

How to Improve Your Tool Business Profitability

Are construction equipment rentals a profitable business? Well, they certainly can be. The key is to make sure that you have an effective rental business plan in place for improving the profitability of your business. With these actionable steps, you can start your new company off right or revolutionize how you run your established business.

1. Study Your Equipment Rentals Target Market

Among the most important aspects of starting any business is defining who your target market is. You need to know who you’re going to be renting to so that you can get the right inventory and apply the right marketing strategies.

For some of the top equipment rentals, this mostly revolves around the scale of the equipment you’re renting out. Are you going to be renting excavators to contractors or tile saws to homeowners? Keeping your inventory focused on a specific niche can help make your business more profitable.

2. Know How to Price Your Tools to Be Profitable

Pricing is one of the most challenging tasks when it comes to establishing your tool rental business. For the most part, you’re going to have to make sure your prices are in line with your competitors’. If you’re charging more, your customers will likely go elsewhere.

However, make sure that the tools you invest in can be profitable at the rental rates you can charge. You can use our equipment rental calculator when developing your tool rental business plan PDF to get a more accurate view of your potential profitability.

3. Develop an Effective Tool Rental Business Website

Your tool rental business model should include having an effective website in place for your business. Many people today prefer to seek out information about companies online. Having a good website makes you easier to find, especially if you take the time to focus on improving your search engine rankings.

If you don’t have a website, you should get one now. Find a good website builder that has the eCommerce functionality you need. Quipli provides a website builder along with our integrated inventory and reservation software, making it easy for your customers to reserve rentals online.

4. Grow and Scale Your Tool Rental Business Through Digital Marketing

Digital marketing is among the most effective tools for how to grow an equipment rental business. While most rental companies can still benefit from conventional marketing like billboards, newspaper ads, and radio ads, digital marketing isn’t optional anymore. It’s a necessary part of your marketing strategy and can focus on areas like:

Search Engine Optimization (SEO)

Your website doesn’t just cater to customers but to search engines, as well. Using the right keywords and metadata can increase your rankings and get you more visitors.

Pay-Per-Click (PPC)

Along with organic growth, search engines and social media give you the option to pay for advertisements. Google, Facebook, and other platforms have a simple model where you pay based on how many users click on your ads.

Social Media

Facebook, Instagram, YouTube, Twitter, and more are simple ways to get information about your business to your customers. Each one serves as one more potential entry point for customers to find your website.

Many strategies can be used to improve your digital marketing. It’s important to keep track of the analytics that advertising and social media platforms provide. That way, you can find out what works and what doesn’t when it comes to driving customers to your business.

5. Keep Investing in New or Used Equipment

You can make your tool rental business profitable by scaling up your inventory. With more equipment to offer, you’ll be making more money while some costs stay constant. That translates to more profit at the end of the year.

Both new and used equipment can be great ways to reinvest money into your business. Determining whether new or used is the best deal varies between specific types of equipment. Keep in mind when investing in new equipment that your existing equipment will need to be replaced at some point.

6. Maintain Quality Working Construction Tools

Like in any other business, the quality of the goods or services you provide for your customers is paramount. You need to ensure that every customer is receiving working, well-maintained equipment.

This will help drive more business based on your reputation. Keeping up with maintenance also makes your equipment last longer, reducing replacement equipment acquisition costs and improving margins.

7. Have Proper Tool Insurance and Liability Waivers

Not having the right insurance and liability waivers can cut into your tool rental profitability when you end up having to pay for damages that would have been otherwise covered. Damages can extend beyond the cost of replacing tools, so you need to make sure that your business is thoroughly protected.

Insurance is one area you want to have clearly defined in your tool rental business plan. The prices you’ll pay will vary depending on whether you’re renting full-scale construction equipment or smaller home-improvement or landscaping tools. Typical rates range from $500 to $1,500 annually per $1,000,000 in liability protection.

8. Focus on Customer Service and Repeat Business

Customer acquisition costs can be steep and are a major factor in answering the question, “Are tool rentals a profitable business?” You want to maximize the value from each customer, and that means doing everything you can to drive repeat business.

You can improve customer retention by:

Having clear communication to avoid disappointment
Offering customer-loyalty discounts for high-volume clients
Making sure your tools are provided in great condition

The value of repeat customers shouldn’t be underestimated, so you can always do a bit more to make sure they’re coming back.

9. Invest in Tool Rental Software

No matter what kind of business you run, you need the right tools for the job. When it comes to equipment rentals, you need the right software to manage your inventory and reservations. This lets you stay organized and provides you with clear and accurate data so you can understand how your business is doing.

Quipli has the rental business software you need to improve your profitability. With a fully integrated reservation and inventory system, you can rest easy knowing that your rentals are properly managed. You can contact Quipli today to book a demo and find out more.

GET STARTED TODAY WITH QUIPLI’S TOOL RENTAL BUSINESS SOFTWARE

What You Need to Know About the Latest Construction Equipment Trends

By Kyle Clements

Published on March 17, 2022

The construction equipment rental business covers a broad range of categories. A construction equipment rental business can rent to both contractors and homeowners, with equipment available in many different sizes for a variety of jobs.

Construction equipment trends appear to be headed upward for the immediate future. That means more rentals across the board. However, not all categories of equipment rentals are seeing the same increase. Here’s a look at how the top ten equipment rental categories are performing, based on Google Trends results.

Scaffolding Rentals

Scaffolding rentals have seen a strong 2020 and 2021, much like other construction equipment trends. Used in many different types of construction projects, from all-new construction to home renovations, scaffolding rentals see a relatively constant demand throughout the year.

With most scaffolding rentals peaking around late summer and early fall, it’s still too early to say exactly how 2022 will go. That being said, the early numbers show a stronger later 2021 to early 2022 than the industry saw the year before.

Forklift Rentals

Forklift rentals are one of the rare reversals when it comes to expected construction equipment trends for 2022. The disruption of many warehouses due to supply chain issues means that we could see the demand for forklifts drop in 2022.

Of course, that drop is coming down from record highs in the fall of 2021, so it’s more like forklift rentals are returning to their natural trend. However, the difference between the 2021 peak and the expectations for 2022 is considerable.

Trencher Rentals

Trenchers are used in a wide variety of different projects, and that includes homeowners trying their hand at DIY landscaping and drainage projects. Because of this, trencher rental interest reached an all-time high in the summer of 2020, during a time that saw many residents taking on home-improvement projects.

These construction equipment trends were the same for categories with significant residential use. In 2021, there was an increase from the years before 2020, and interest is expected to be high in 2022 as well, just not as much as we saw in 2020.

Lift Rentals

Lift rentals have seen very gradual growth in recent years, remaining steady compared to other construction equipment trends. Including a variety of standard, articulating, and telescopic boom lifts, this type of equipment is constantly in demand in many industries.

The end of 2021 saw a considerable spike in lift rentals, although it’s unclear at this time if the spike will continue, or if lift rentals will return to their usual trend. While there has been some decrease following the initial jump, interest is still up.

Scissor Lift Rentals

Scissor lifts generally follow similar construction equipment trends to other lift rentals, and have remained steady over the past five years or so. However, there’s been a dramatic spike since the end of 2021. Search interest more than tripled before dropping down to more reasonable (but still high) levels.

With so much interest in scissor lifts, the upward trend is expected to continue into 2022. While the extraordinary spike might not be seen again for some time, it seems that scissor lift rentals are on the rise.

Auger Rentals

Auger rentals are widely used for many purposes, but some of the most common include digging holes for deck or fence posts, along with other residential landscaping and construction purposes. As such, the summer of 2020 saw a huge spike for auger rental interest, similar to other construction equipment trends.

In 2021, there was reduced interest from 2020 for auger rentals, but the trend remained good overall. This leaves the potential for some growth going into the summer of 2022, with a solid foundation based on above-average fall months in 2021.

Mini-Excavator Rentals

Mini-excavator rentals have seen some of the most consistent growth compared to other construction equipment trends, with rentals increasing year over year since 2017. The best year yet was 2021, which maintained growth even over the substantial spike in 2020.

These growth trends are seasonal, with a peak in summer and a significant drop in winter. The summer of 2021 had a significant rise in mini-excavator interest, and 2021 reached new heights, sparking hope for an even better 2022.

Excavator Rentals

Excavator rentals are used mainly by contractors and saw a smaller 2020 bump than other construction equipment trends that were more residential in nature. That being said, 2020 did see a boost driven by an increase in construction projects.

That growth continued through 2021, with the summer of 2021 bringing an all-time high in excavator rental interest. The early days of 2022 are also showing an increase over the same time in 2021, so we could see even more growth this year.

Sod Cutter Rentals

Backhoe Rentals

Backhoe rentals are some of the most seasonal rentals out there, with construction equipment trends showing that rentals are considerably more prevalent in summer than in winter.

They also saw some of the largest increases in interest during 2020, with a spike over 2019. Summer 2021 saw a noticeable decrease compared to the year before but was still up compared to earlier years. It’s still a bit early to say how 2022 will go.

Starting Your Equipment Rental Business Could Be Easier Than You Think

Recent trends show that the construction equipment rental industry is highly lucrative and still has plenty of potential for growth. If you’re looking into starting a business, you need the right tools for the job.

Quipli is an all-in-one platform that provides you with inventory and reservation management, along with an effective ecommerce website builder for your business. Contact our team today to get started!

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